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1997 (2) TMI 38 - HC - Income TaxExtract: ....... and were deductible. The above view was reiterated by the Supreme Court in the case of Sri Venkata Satyanarayana Rice Mill Contractors Co. v. CIT 1997 223 ITR 101 where a payment was made to a public welfare fund by an assessee. Following the said decisions we answer the second question referred to us in the negative and in favour of the assessee.
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